Synonyms for opec
ˈoʊ pɛkopec

Princeton's WordNet

1. Organization of Petroleum-Exporting Countries, OPECnoun

   an organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum

Matched Categories

1. • Oil Cartel
   • World Organization

Suggested Resources

1. OPEC

   What does OPEC stand for? -- Explore the various meanings for the OPEC acronym on the Abbreviations.com website.

How to pronounce opec?

How to say opec in sign language?

Words popularity by usage frequency

How to use opec in a sentence?

1. Igor Sechin:

   The 1970s, when a series of the largest Middle East producers could determine global oil market conditions by creating cartel structures such as OPEC, should be forgotten, at the moment a number of objective factors exclude the possibility for any cartels to dictate their will to the market. ... As for OPEC, it has practically stopped existing as a united organisation.

2. The IEA:

   Although we do not formally forecast OPEC oil production, in a scenario whereby Iran adds 600,000 bpd to the market by mid-year and other members maintain current output, global oil supply could exceed demand by 1.5 million bpd in the first half of 2016, while the pace of stock-building eases in the second half of the year as supply from non-OPEC producers falls, unless something changes, the oil market could drown in over-supply. So the answer to our question is an emphatic yes. It could go lower.

3. Harry Tchilinguirian:

   It would seem that an aggregate increase in production for OPEC+ of between 500,000 barrels per day (bpd) and 1 million bpd is the range that is being considered.

4. Tyler Richey:

   Markets are forward-looking. The fact that Russia, Saudi Arabia and OPEC more broadly have started discussing raising output levels, you've got this pretty swift correction.

5. Sandy Fielden:

   For Gulf Coast refiners already hit by Venezuela sanctions, Iran sanctions, Canada's cuts and OPEC cuts, this adds insult to injury, the number of alternative sources of heavy crude is narrowing.